IL HB4526

Creates a $5,000 annual income tax credit for qualified community care physicians, effective for taxable years beginning January 1, 2025

Requires physicians to be licensed under the Medical Practice Act of 1987, in good standing with no adverse disciplinary action, and with no more than 3 medical malpractice judgments or settlements in the preceding 4 years

Requires physicians to be certified by the U.S. Department of Veterans Affairs as part of the community care network and provide services to at least 5 Veterans Community Care Program patients during the taxable year

Credit cannot reduce tax liability below zero and excess credits cannot be carried forward or back to other years

Exempts this credit from Section 250 provisions of the Illinois Income Tax Act